OYO Sports Builds Integrated E-commerce Company with Manufacturing in the U.S.
Company has raised $3M in seed investment to develop innovative sports brand for fans of all ages
BOSTON, June 12, 2014-- OYO Sports, a rapidly growing fan engagement company, announced that it has raised $3 million in seed funding bringing total angel and seed funding to-date to $4.6M. The funds are being used to build a vertically integrated e-commerce business with real-time U.S. based manufacturing. In addition to several participating angel investors, seed investors include Boston Seed Capital and Atlas Venture.
“We’ve been amazed by the consumer demand, reflected in both our dramatic e-commerce growth and incredible sell-thru results at retail,” said Tom Skripps, Founder and CEO, OYO Sports. “We are ambitiously building on a vision that extends beyond toys to engage the kid in all fans.”
OYO Sports designs, manufactures and offers league and player licensed minifigure building-toys that carry the likenesses of popular professional athletes. From baseball to football to hockey, OYO’s partnerships with US professional sports leagues and players associations provide a platform to develop miniature versions of fans’ favorite players from their favorite teams. Beyond its current league relationships, OYO sees potential to extend its licensing agreement to sports and leagues around the world.
OYO Sports leadership team includes: Mike Ewing, previously CMO at LogMeIn and SVP, Vistaprint; Shari Fabiani, previously head of global marketing and product marketing, Adidas/Rockport; Daryl McKay, previously president, Sports Images; Craig Gainsboro, previously CFO tax and advisory services, PWC; Martin Hanssmann, previously president of AltaStream.
“OYO Sports has captured emotional connections with sports fans by creating minifigures of their favorite player and field sets from their favorite team,” said Peter Blacklow, partner at Boston Seed Capital. “We’re seeing fans making detailed video recreations with OYOs; we’ve even seen many professional athletes posing with their own OYOs and tweeting those pictures out to fans around the world.”
“OYO’s potential goes way beyond toys,” said Ryan Moore, partner at Atlas Venture. “With a growing group of highly engaged customers and social followers, there is a built-in ability to expand physical product lines and go well past that into digital experiences as well.”
OYO Sports currently has approximately 120 employees at its Acton, MA headquarters. At OYO’s headquarters, the company designs, manufactures, prints and assembles thousands of individual minifigures each day with the ability to produce product and deliver orders nearly real-time based on always changing demand in the sports world. In the case of a player who is traded or signs with a new team, OYO can create their new minifigure, from design, through testing, and approval in less than two days.
To learn more about OYO Sports and to see our nearly 2,000 unique individual athlete OYOs, please visit the website at: www.oyosports.com.
About OYO Sports:
OYO Sports (originally known as OYO Sportstoys), engages the kid in all fans. OYO Sports starts with minifigure building toys that have the likeness of your favorite player from your favorite team. OYO minifigures and other products are compatible with major brands of building products, and promote hands-on play for kids of all ages. Since the company’s founding in 2011, OYO minifigures have expanded from baseball to football and hockey with more sports on the horizon. For more information, please visit www.oyosports.com.
About Boston Seed Capital:
Boston Seed Capital provides seed stage funding for internet-enabled businesses. Boston Seed Capital funds from Boston to anywhere, and alongside exceptional entrepreneurs and teams with innovative breakthroughs. For more information, please visit www.bostonseed.com.
About Atlas Venture:
Atlas Venture is a leading early-stage venture capital firm that invests in technology and life sciences companies. Since inception in 1980, Atlas has helped build over 350 companies in more than 16 different countries. Atlas Venture is currently investing from its eighth fund and manages over $2 billion in committed capital. For more information, please visit www.atlasventure.com.
Matt Burke, 603-315-0618
Venture Capital Database